CareTrust REIT, Inc. $CTRE Shares Sold by Aew Capital Management L P

Key Points

• Aew Capital Management L P has reduced its stake in CareTrust REIT, Inc. by 14.1%, selling 137,410 shares and now owning 837,292 shares.
• CareTrust REIT announced a quarterly dividend of $0.335 per share, representing an annualized dividend of $1.34 with a yield of 3.9%.
• Analysts have a consensus rating of "Moderate Buy" for CareTrust REIT, with target prices varying between $31.50 and $36.00.

Aew Capital Management L P reduced its position in CareTrust REIT, Inc. (NASDAQ:CTRE - Free Report) by 14.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,292 shares of the real estate investment trust's stock after selling 137,410 shares during the quarter. CareTrust REIT accounts for approximately 1.2% of Aew Capital Management L P's investment portfolio, making the stock its 23rd largest holding. Aew Capital Management L P owned approximately 0.44% of CareTrust REIT worth $23,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CTRE. Quarry LP raised its holdings in shares of CareTrust REIT by 463.5% in the fourth quarter. Quarry LP now owns 1,854 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 1,525 shares in the last quarter. Glen Eagle Advisors LLC purchased a new position in CareTrust REIT in the fourth quarter valued at about $56,000. Fifth Third Bancorp grew its stake in CareTrust REIT by 217.5% in the first quarter. Fifth Third Bancorp now owns 1,978 shares of the real estate investment trust's stock valued at $57,000 after purchasing an additional 1,355 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in CareTrust REIT in the fourth quarter valued at about $76,000. Finally, Pandora Wealth Inc. purchased a new position in CareTrust REIT in the first quarter valued at about $120,000. 87.77% of the stock is currently owned by institutional investors.

CareTrust REIT Stock Down 0.9%

Shares of CTRE stock traded down $0.30 during trading hours on Thursday, reaching $34.31. 478,822 shares of the company's stock were exchanged, compared to its average volume of 1,950,049. CareTrust REIT, Inc. has a 1 year low of $24.79 and a 1 year high of $34.92. The stock has a market cap of $7.48 billion, a PE ratio of 43.42, a PEG ratio of 1.25 and a beta of 0.85. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 0.14. The stock's fifty day moving average price is $31.81 and its two-hundred day moving average price is $29.29.

CareTrust REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 3.9%. CareTrust REIT's payout ratio is 111.67%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. KeyCorp lifted their target price on CareTrust REIT from $33.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Royal Bank Of Canada reiterated an "outperform" rating on shares of CareTrust REIT in a research note on Monday, August 11th. Finally, Wells Fargo & Company boosted their price target on CareTrust REIT from $32.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, CareTrust REIT currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.50.

CareTrust REIT Profile

CareTrust REIT, Inc's (CareTrust REIT or the Company) primary business consists of acquiring, financing, developing and owning real property to be leased to third-party tenants in the healthcare sector. As of March 31, 2024, the Company owned directly or through a joint venture and leased to independent operators, 228 skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of 24,189 operational beds and units located in 29 states with the highest concentration of properties by rental income located in California and Texas.